AutoZone, Inc. $AZO Shares Bought by Franklin Resources Inc.

Key Points

• Franklin Resources Inc. increased its stake in AutoZone by 3.0% in Q3, owning 68,370 shares (about 0.41% of the company) valued at roughly $291.0 million.
• Analysts hold a consensus rating of "Moderate Buy" for AZO with a consensus price target of $4,318.38, and the majority of analysts rate the stock as Buy (21 Buy, 6 Hold, 1 Strong Buy).
• In the latest quarter AutoZone posted EPS of $27.63 (beating the $27.59 estimate) while revenue of $4.27 billion missed the $4.31 billion estimate; revenue rose 8.2% year‑over‑year and the company has a market cap around $59.9 billion (P/E ~25.3).

Franklin Resources Inc. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,370 shares of the company's stock after buying an additional 1,967 shares during the quarter. Franklin Resources Inc. owned approximately 0.41% of AutoZone worth $291,038,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AZO. Raleigh Capital Management Inc. purchased a new position in AutoZone in the third quarter worth approximately $26,000. Global Trust Asset Management LLC increased its position in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of AutoZone in the 2nd quarter valued at $33,000. Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at $34,000. Finally, AlphaCore Capital LLC lifted its position in shares of AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company's stock worth $37,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on AZO shares. UBS Group set a $4,800.00 target price on shares of AutoZone in a research note on Tuesday, March 3rd. Barclays raised their price target on AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. BNP Paribas Exane lowered their price objective on AutoZone from $4,811.00 to $4,268.00 and set an "outperform" rating for the company in a research report on Wednesday, December 10th. Jefferies Financial Group reiterated a "buy" rating and issued a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Finally, Truist Financial cut their target price on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,318.38.

AutoZone Price Performance

Shares of AZO opened at $3,612.86 on Friday. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The stock has a market cap of $59.87 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41. The firm has a fifty day moving average price of $3,644.59 and a 200 day moving average price of $3,809.00.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company posted $28.29 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, Director Michael A. George acquired 145 shares of AutoZone stock in a transaction on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company's stock, valued at $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 9,447 shares of company stock worth $34,179,923. Insiders own 2.60% of the company's stock.

AutoZone Company Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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